Drucken GB - MME moviement

corporation tax for 2004 in the amount of 25%, the solidarity surcharge of 5.5% -
taken on the corporation tax to be paid - and an average trade earnings tax rate of
19.4%. In comparison with the previous year there were various trade tax rates that
affected the 2004 financial year.
The corporation tax is the income-dependent tax for legal entities. The amount of
corporation tax is determined by the income of the company, taking into account any
deductions and additions. Trade earnings tax can be deducted from the basis of
assessment for corporation tax (income tax).
The trade earnings tax is levied on the taxable income of a company with the deduction
of income not subject to trade earnings tax and the addition of expenses not
deductible for the purpose of trade earnings tax.The effective trade earnings tax rate
depends on which municipality the company maintains a site for exercise of its trade
operations.
As per IAS 12, the tax rate existing on the date that the statement of our company
was prepared is applied in the computation of deferred taxes according to the "liability
method", reflecting the temporary differences between taxable values and book
values of assets and debt in accordance with IFRS as well as its value as used for income
tax purposes and taxable losses carried forward, if a positive earnings forecast
was in place.
Tax on earnings breaks down as follows:
2004 2003
in EUR 000’s in EUR 000’s
Current yield / expenditure from income tax -2.270 4
Deferred taxes 1.785 -334
Tax yield/expenditure recorded -485 -330
NON-BINDING TRANSLATION
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